Pekin Singer Strauss Asset Management IL bought a new stake in shares of Marathon Petroleum Corp (NYSE:MPC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,810 shares of the oil and gas company’s stock, valued at approximately $225,000.
Other large investors also recently made changes to their positions in the company. NEXT Financial Group Inc purchased a new position in shares of Marathon Petroleum during the third quarter valued at approximately $124,000. Legacy Financial Advisors Inc. purchased a new position in shares of Marathon Petroleum during the second quarter valued at approximately $113,000. Northwest Wealth Management LLC purchased a new position in shares of Marathon Petroleum during the second quarter valued at approximately $116,000. Norway Savings Bank purchased a new position in shares of Marathon Petroleum during the second quarter valued at approximately $126,000. Finally, Destination Wealth Management purchased a new position in shares of Marathon Petroleum during the second quarter valued at approximately $144,000. 83.07% of the stock is currently owned by institutional investors.
Shares of NYSE MPC opened at $69.76 on Tuesday. Marathon Petroleum Corp has a one year low of $60.10 and a one year high of $88.45. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.60. The firm has a market cap of $31.34 billion, a PE ratio of 18.36, a PEG ratio of 0.95 and a beta of 1.50.
Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Thursday, November 1st. The oil and gas company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.02. Marathon Petroleum had a return on equity of 12.21% and a net margin of 4.48%. The firm had revenue of $23.13 billion for the quarter, compared to analysts’ expectations of $23.20 billion. During the same quarter in the prior year, the firm earned $1.77 EPS. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, research analysts expect that Marathon Petroleum Corp will post 5.13 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Wednesday, November 21st will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.64%. Marathon Petroleum’s payout ratio is 48.42%.
Several research firms have weighed in on MPC. Zacks Investment Research cut Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. Barclays began coverage on Marathon Petroleum in a research report on Wednesday, October 3rd. They issued an “overweight” rating and a $125.00 price objective on the stock. Wells Fargo & Co reissued a “buy” rating on shares of Marathon Petroleum in a research report on Monday, August 27th. Royal Bank of Canada reissued a “buy” rating and issued a $87.00 price objective on shares of Marathon Petroleum in a research report on Friday, July 27th. Finally, Mizuho began coverage on Marathon Petroleum in a research report on Wednesday, August 1st. They issued a “buy” rating and a $95.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Marathon Petroleum presently has an average rating of “Buy” and an average target price of $92.38.
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Marathon Petroleum Profile
Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.
Further Reading: Understanding each part of a balance sheet
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